Canada: Economic Confidence Makes a Comeback
Canada’s improving economy has been given another vote of confidence by economists at establishments like the Royal Bank of Canada, UBS Securities Canada, and the University of Toronto. The economists there have bumped up their growth forecasts for 2012 because of factors in and outside Canada’s borders. Some of the worst-case scenarios [on Europe, the U.S. and China] look a little less worrisome now than they did, say in December,” said RBC chief economist Craig Wright, who is raising his projection for growth to 2.6 percent for 2012. The uncertainty is easing,” he added. Another good indicator for the country comes from Statistics Canada’s investment intentions survey which last month found that Canadian businesses plan to invest 6.2 percent more, up to $306.3 billion, this year.